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Former Twitter execs sue Elon Musk for over $128 mln in severance
Elon Musk X is already facing a pair of proposed class actions...
Google apps, Facebook, Instagram face network outage
Users complained that they have been logged out of Facebook,...
Canada names China, Russia as main cyber-crime threats; sees risk to power supply
“We certainly have a long history of noting behavior from China that isn’t in accordance with what our expectations are,” Scott Jones, head of cyber security at CSE, told reporters.
Roberts to lead Global Renewable Energy biz of Marsh JLT SpecialtyLondon:
“There is renewed political will as we approach the end of 2020 to move towards greater decarbonization and more sustainable energy sources.As traditional energy companies continue to decarbonize their footprints – and market challengers seek to redefine the energy landscape – Marsh JLT Specialty’s Global Renewable Energy team will play a key role in supporting our clients and communities as they transition towards more sustainable and carbon-neutral futures,”said Roberts
U.S. lifts Boeing 737 MAX flight ban after crash probes, tough hurdles remain
Questions remain over how quickly other regulators, especially in China, will lift their flight bans.
The U.S. planemaker’s best-selling jet will make its comeback facing headwinds from a resurgent coronavirus pandemic, new European trade tariffs and mistrust of one of the most scrutinized brands in aviation.
New internet rules to give Pakistan blanket powers of censorship
A service provider or social media company could face a fine up to 500 million rupees ($3.14 million) for non-compliance, which would in turn trigger a mechanism preventing the uploading and live streaming, particularly related to “terrorism, hate speech, pornography, incitement to violence and detrimental to national security”.
A platform has to act within 24 hours or, in case of an emergency, six hours to remove content. The rules also empower the telecom authority to block an entire online system.
Lloyd’s of London sees global pandemic insurance losses above previous estimate
Lloyd’s has proposed a “Black Swan” reinsurance scheme to governments globally to ensure better cover during circumstances such as the pandemic and other disturbances to business, but Carnegie-Brown said it was hard to get government attention on the topic so far.
“The challenge for governments of course is that they are very short-term focused… (it is) very difficult for them to lift their heads above the parapet and think about the future,” Carnegie-Brown said.
Large Boeing 737 MAX customers signal caution on orders amid COVID-19
When the 737 MAX was grounded globally in March 2019 following two fatal crashes, airlines canceled flights because they lacked enough airplanes to meet strong travel demand.
Now many have parked jets or even gone out of business in the pandemic, creating challenges for Boeing as it tries to find homes for 737 MAX jets that are built but now lack buyers.
Canada’s Intact, Denmark’s Tryg agree to buy British insurer RSA for $9.6 billion
Best known in Britain for its more than brand, RSA provides home, motor and commercial insurance and also has large operations in Canada, Ireland and Scandinavia.
China all set to change its development model from 2021: Xi Jinping
“In seven years since the 2008 global financial crisis, the contribution of China’s domestic demand to GDP exceeded 100 per cent, making domestic consumption the main driver of its growth,” Chinese President Xi Jinping said.
China’s per capita GDP has topped USD 10,000 and its middle-income population has exceeded 400 million. It is projected by many international institutions that China’s retail market will reach USD six trillion in size this year, he said.
Aon Launches Asia Pacific Capital Advisory Unit to support Re/insurers
“In the current environment, many Asia Pacific re/insurers are experiencing low growth, low underwriting margins and low investment income, while facing higher capital requirements due to regulatory and rating agency obligations,” said Rupert Moore, CEO of Japan for Reinsurance Solutions,, AON
Santam loses virus-linked test case for S. African insurers
The court agreed with the approach of the UK Financial Conduct Authority in settling business-interruption claims as a result of COVID-19 restrictions and ordered Santam to pay Ma-Afrika Hotels and Stellenbosch Kitchen for losses for an 18-month period, according to the judgment on Tuesday.